DAVE SMALLWOOD:“ Payments regulations differ significantly across regions, driven by local laws, financial infrastructure, and policy priorities. In Europe for example, the SEPA( Single Euro Payments Area) simplifies cross-border transfers, cutting fees and improving efficiency. However, even within Europe, you can find countries like the Netherlands and Germany with specific payment preferences, such as iDEAL or PayPal which dominate in those markets.

Regulatory differences in areas like data protection, security measures and transaction fees also complicate cross-border transactions. These differences add complexity to money movement and can pose challenges for businesses trying to operate globally.

As businesses expand into new markets, navigating the diversity of payment preferences and regulatory environments becomes increasingly difficult. This complexity can slow transactions and add friction, unless they partner with payment service providers( PSPs) who understand the local nuances and can facilitate smoother operations.

While consolidating payment systems could streamline crossborder transactions, it’ s crucial not to overlook the unique needs of each market.

To truly simplify money management across borders, it’ s essential to hyperlocalise payment tools and products to meet regional demands.”

Dave Smallwood, UK Managing Director, Mollie